Structure of the euro area economy

This section introduces the main economic and financial structures of the euro area economy. For details, see Chapter 2 of the book "The monetary policy of the ECB" (see link on the right-hand side).

Key characteristics

Compared with its individual member countries, the euro area is a large and much more closed economy. In terms of its share of global GDP, it is the world’s third-largest economy, after the United States and China.

As in other highly developed economies, the service sector has the largest share of total output, followed by the industrial sector, while the share of agriculture, fishing and forestry is relatively small. The euro area is also one of the world’s largest economies in terms of population, with almost 340 million people.

Key real economy characteristics of the euro area and other major economic areas in 2015

Sources: For the euro area: ECB, Eurostat, national data and ECB calculations; for the United States, Japan and China: BIS, IMF, OECD, Reuters and national sources.
*) 2014 figures
Notes: 1. Euro data, US and Japan: annual average; China: end of the year data. 2. Data for US, Japan and China are converted into euro at OECD purchasing power parities (PPPs). 3. Ratio of the labour force to the working age population (aged 15 to 64).
US: the proportion of the civilian non-institutional population (aged 16 to 64) either at work or actively seeking work.
Annual average. 4. Ratio of persons employed to the working age population (aged 15 to 64).
US: the proportion of the civilian non-institutional population (aged 16 to 64) at work. Annual average. 5. General government data for China are not directly comparable with the other major economic areas. 6. General government debt consists of deposits, debt securities and loans outstanding at nominal value and is consolidated
within the general government sector. Chinese data follow a different methodology and are not directly comparable. Year-end. 7. European definition also for US and JP. 8. Euro area: based on extra-euro area transactions.

Report on financial structures, 12 October 2002
ENGLISH Statistical annex
ENGLISH

Price effects of regulatory reform in selected network industries, 24 March 2001
ENGLISH

Key real economy characteristics of the euro area and other major economic areas in 2015

Sources: For the euro area: ECB, Eurostat, national data and ECB calculations; for the United States, Japan and China: BIS, IMF, OECD, Reuters and national sources.
*) 2014 figures
Notes: 1. Euro data, US and Japan: annual average; China: end of the year data. 2. Data for US, Japan and China are converted into euro at OECD purchasing power parities (PPPs). 3. Ratio of the labour force to the working age population (aged 15 to 64).
US: the proportion of the civilian non-institutional population (aged 16 to 64) either at work or actively seeking work.
Annual average. 4. Ratio of persons employed to the working age population (aged 15 to 64).
US: the proportion of the civilian non-institutional population (aged 16 to 64) at work. Annual average. 5. General government data for China are not directly comparable with the other major economic areas. 6. General government debt consists of deposits, debt securities and loans outstanding at nominal value and is consolidated
within the general government sector. Chinese data follow a different methodology and are not directly comparable. Year-end. 7. European definition also for US and JP. 8. Euro area: based on extra-euro area transactions.